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New products, markets and free trade agreements to help turnaround India’s export story

New products markets and free trade agreements to help turnaround Indias export storyWith these being stagnant over the last three years, the Indian exports paint a dismal story. The government recently issued a circular to replace the existing the Merchandise Exports from India (MEIS) scheme with the new Rebate of State Taxes and Levies (RoSTL) scheme. “But we would like the MEIS scheme to be continued upto March 2020 as we have already booked our export orders,” says Dr A Sakthivel, Chairman, AEPC which plans to concentrate on promotion of exports.

AEPC has formed a new management team that will identify new products and markets other than Europe, US and Canada. “We plan to expand in these markets by developing new products and guiding our exporters on how to penetrate these markets. We also plan to strengthen our IT system by developing a portal for small exporters and buyers,” adds Sakthivel.

Another strategy that AEPC aims to adopt is of exploring free trade agreements with Europe, UK and also CEPA with Canada and Australia. “This will enable us to double exports. The only reason other countries are growing is that their buyers don’t have to pay duty. We have to work on these scales. Not only are we planning to set up bigger factories but have also submitted a proposal for an EXIM policy and reduction of the GST on capital goods by half.

 
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